A lot of people are attracted to the idea of working from home, but too often they allow fears and myths about owning a home-based business prevent them from bringing it to fruition. While starting a full or part-time business from home requires some planning and careful consideration, it doesn’t have to be an overwhelming task. Don’t overthink it and make the mistake of dismissing the idea before you’ve considered these 10 reasons why working from home is a good idea:
1. Supreme Control of Your Time
Being the boss of your day is one of the perks of working from home. Working from home enables you to customize your work schedule around your needs and that of your family. How about those wonderful perks, like mid-day power naps? As a home-based business owner, you can catch some Zzz’s during that common, afternoon energy slump instead of chugging more caffeine to power through. As a home-based business owner you can tailor your schedule to accommodate all manner of needs and even work in the late afternoon or evenings, if you prefer.
2. Put Your Personal Pursuits and Parental Duties At the Top of Your List
Owning a home business is the solution to prioritizing yourself and your family and weaving precious moments into your workday, while earning an income. All work and no play is a dull life, and home-based business ownership allows for the marriage of the two without sacrificing the financial foundation you need to fund an enjoyable lifestyle. A flexible schedule means carving out the time for your kids and family, as well as other personal interests. Wanna volunteer at your child’s school? Check…you can do that if you’re in business for yourself!
More families are interested in homeschooling, and a home-based business is a perfect fit…showing your children how to be entrepreneurial, manage time and funds are lessons a home-based business teaches young people…it’s an education in itself.
3. Do What You Love and You’ll Never Work a Day in Your Life
Pursuing a passion to turn a profit and create a livable income is one of the best benefits to being a home-based business owner. Whether you are creative, a social butterfly, invested in helping people and your community…or ALL of those things…a home-based business gives you the platform to combine a personal calling with income creation.
4. Avoid Traffic Jams, Road Rage and Expenses of a Commute
Most Americans begin their days in grid-lock. Working outside the home means factoring in an added 30 minutes, on top of the amount of time it takes one to get to their place of business, just in case there is a traffic-based delay.
Unfortunately, those morning and afternoon commutes bring out the worst in some folks. It’s uncomfortable and even scary.
The average costs of a job-related commute in the United States is almost $400 a month in fuel alone. On top of commute costs, there is the wear and tear on your vehicle, toll road charges and insurance costs to consider. When you have a home-based business you can write-off many vehicle related expenses…more on that in a moment.
5. Regulating Your Income
The stigma of uncertainty around maintaining a steady, livable income as a home-based business owner is offset by the very real fact that as a business owner, you’re more capable of earning a wage worthy of your efforts and skills at a higher rate than you’d earn at a job.
There is an ebb and flow to all of life and that includes the earning potential of a home-based business. With some vision, a solid plan to fill the funnel and market consistently and persistently, a self-employed entrepreneur can create a balance and, often times, generate more money to offset any lull or downturn.
A home-based business owner has the unlimited ability to accrue as much money as they choose and regulate their own income. A salaried employee brings home the same amount bi-weekly or semi-monthly, regardless of the strength of the economy. Paycheck employees must trade their time for dollars if they want to increase their earning potential…working overtime and double time…to bring home the kind of money a home-based business owner earns during the hours they’ve tailored around their lives.
6. Taxes That Work For You
One of the biggest reasons to own a home-based business is the tax advantages that aren’t extended to employees. Equipment, supplies, some (or most) of your vehicle expenses, the office space within your home and utility related expenses that go with it, like Internet service, are all deductible. Lunch, dinner meetings and travel can be tax write-offs, as well.
As an employee, you are taxed on your total earnings, but as a home-based business owner you get to deduct your expenses first and pay taxes on your net income. For this reason alone, it’s beneficial to start a side-gig and work it into the cracks of your day. This enables you to have the advantages of home-based business tax deductions, generate a residual income in addition to the money you pull at a job, and even grow your side business into a home-based business that replaces your job’s income.
7. Ditch the Tie and Pantyhose
As a home-based business owner, you can work in your pajamas, yoga pants or even in the buff from the bathtub. It’s true! This perk can save you money on dry-cleaning costs and replacing snagged pantyhose. Not having “the right thing to wear” won’t prevent you from getting work done, meeting a deadline or making a meeting on time. You don’t have to wear a power suit to be taken seriously. You can don flip flops or fluffy bathroom slippers. You can sit with your toes in the sand and one might never know your face is covered in zinc oxide and your hair in the messiest of messy buns! It’s liberating!!!
8. It’s Okay to be Bossy!
A home-based business is the perfect fit for the person who doesn’t like being told what to do, how to do it, when to do it or where to do it…or what one should be wearing when they do it. Having experienced and successful mentors who practice servant leadership to guide you is NOT the same as having a boss looking over your shoulder micro-managing your efforts.
Additionally, and since you’re the boss of yourself, you don’t have to submit vacation requests or ask for time off when you or someone in your family is sick. Being your own boss means being accountable to the things that are important to you within your own timeframe and not the punch list of someone else with their deadlines and priorities.
9. If You Can’t Get No Satisfaction
This is a no-brainer. When you do what you love and love what you do you are happier and healthier. The deepening link between happiness and personal satisfaction is undeniable and it encompasses all areas of your life. When the happy hormones are triggered it ripples outward. The lifestyle generated by home-based business ownership is steeped in joyful freedom and the rich reward that you are steering the boat of your own destiny and not at the mercy of Corporate America or someone with a vision that differs from your own.
10. It’s Personal!
Often times, employees wind up with the SSDD syndrome…same shit, different day. You see their eyes glaze over and they become zombie-like. They aren’t anticipating any excitement awaiting them at the office. It’s just the same old, dull routine with zero chance of anything more stimulating occurring in their workplace. A home-based business might require routine tasks, but how and where they are carried out is a matter of Personal Preference. You can work from different locations, like a hammock, for instance. Make calls beside the pool. Schedule appointments while you get a pedicure. Catch up on paperwork or read emails on the porch. Change up the order in which you get tasks completed…it’s entirely up to you. Since you design your day, you can fit in opportunities to keep things interesting and find time to build on your skill-set.
There is so much more to owning a home-based business that keeps the wheels turning. Personal Development is at the core of being successful in a home-based business, so allowing time to read positive and uplifting books comes with the job. The groovy thing about doing this is the more you learn and grow yourself…sharpening your own mind and understanding where your motivations are rooted…the more value you bring to your business. When you grow, your business grows. This has a compounding effect on the people you surround yourself with, as well. Like bees to honey, you wind up attracting opportunities and, likewise, generating them for others. It’s an endless cycle of empowerment and sure beats the hamster wheel grind of Corporate America.
When you’re ready to learn more, (NOW…you are ready right now), I’ll see you on the flip side in my flip flops.